As Atomic Wallet operates as a non-custodial decentralized wallet, users assume full responsibility, while the specific method of attack remains unclear, prompting the team to conduct an ongoing investigation
Reports on Twitter indicate that users have suffered complete loss of their cryptocurrency holdings following their utilization of Atomic Wallet, raising concerns of a potential compromise. Given that Atomic Wallet operates as a non-custodial decentralized wallet, users assume full responsibility for the security of their funds.
“We have been made aware of wallet compromises and are actively conducting investigations to analyze the situation thoroughly. We are committed to sharing relevant updates as we gather more information.”
ZachBTX Assisting in the Investigation
Numerous individuals have commented on the page, sharing their unfortunate experiences of losing funds due to a breach in their digital wallet app. In response, ZachBTX, a highly regarded on-chain investigator known for his expertise in recovering stolen assets and assisting affected projects, has joined the efforts in investigating the matter.
At the time of writing this article, the specific method employed in the attack remains uncertain. It is worth noting that Atomic Wallet boasts a user base of over 5 million registered individuals. In the past, users of the Atomic Wallet app have taken to Twitter to express their dissatisfaction regarding fund theft incidents.
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In addition to the ongoing assault, this incident adds to the growing list of weekly crypto hacks. Another noteworthy incident occurred on May 28, where a vulnerability was discovered in the Jimbos Protocol Decentralized Finance (DeFi) protocol, resulting in the theft of approximately 4,000 Ether, equivalent to nearly $7.5 million.
Similarly, the decentralized cryptocurrency mixer Tornado Cash was recently compromised. On May 20th, an attacker gained full administrative control over the protocol by securing 1.2 million votes for a fraudulent proposal.
Furthermore, based on a Chain analysis survey, it was revealed that hackers managed to pilfer approximately $3.8 billion worth of cryptocurrency assets in 2022. The majority of these illicit activities were attributed to North Korean-linked attacks, primarily targeting DeFi protocols.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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